Financial and tax policies of the United States government can help Americans achieve significant wealth through real estate ownership. These policies tend to favor taxpayers who, like the Trump family, are willing to commit...more

As the oil and gas industry has moved away from the legacy of the 1/8th royalty, double-fraction language has generated a multitude of disagreements as to whether a royalty interest should be construed as "fixed" or...more

What happens when an individual person dies holding a Federal Energy Regulatory Commission license for a hydroelectric project? While their will may specify an heir for the dam and project works, the process of inheriting a...more

As previously reported in the PK Law Newsletter, tax planning for the end of 2015 was hampered by the expiration of a number of “temporary” tax provisions routinely extended for a one or two year period by Congress. Congress...more

The development of the Marcellus Shale in Pennsylvania has led to a number of disputes about historical judgments that purportedly divested reserved oil and gas rights from their owners. During the 20th century, surface...more

In 2006, Fred Houston created the Fred L. Houston Trust and placed into it the Tenneco lease, which had been producing since 1974. Ms. Williams was the trustee. The trust instrument declared the trust “… irrevocable and may...more

Let’s talk title disputes, especially ones between those with record title and those claiming title by possession:
- They are complicated (There were 229 defendants in today’s case)
- They happen when there is a lot...more

In This Issue:
Who Gets Your IRA? – Six Common Mistakes; Estate Planning for Digital Assets; and Post-Production Issues and Oil & Gas Leases.
Excerpt from Who Gets Your IRA? – Six Common Mistakes:
Do you...more

Conventional wisdom is that a spouse’s earnings from separate property are community property. But it’s not that simple. In Benavides v. Mathis a Texas court denied wife Leticia’s claim to one-half of the income derived from...more

The 2nd Special Session of the 2013 Legislature adjourned sine die on June 29, 2013. The accomplishment of this session was passage of a state budget, which had eluded state legislators through the Regular Session that ended...more

On June 13, 2013, the West Virginia Supreme Court of Appeals (WVSCA) issued its decision in Faith United Methodist Church & Cemetery of Terra Alta, et al. v. Morgan, No. 12-0080, setting forth a clear definition of the term...more

The U.S. Geological Survey has doubled its previous estimate of the amount of recoverable oil within the Williston Basin to 7.4 billion barrels. While the Bakken formation is still a star in the play, the potential of the...more

Overview -
The March 21, 2013 Federal Budget changed the tax law applicable to the pipeline abandonment trust (Trust) structure that has been submitted to the National Energy Board (NEB) as the proposed mechanism for...more

For months in Washington, and beyond, attention has been focused on the "fiscal cliff" -- the combination of the expiration of the Bush tax cuts and the looming budget cuts referred to as "sequestration." Negotiations led by...more

As you likely have heard, the President signed the American Taxpayer Relief Act (H.R. 8) (the "Act") on January 2, 2013. The Act, popularly known as the "fiscal cliff" legislation, permanently extends the Bush era tax cuts...more

On August 8, 2012, the North Carolina Business Court held that electric cooperatives may lawfully discount capital credits of deceased members when they are retired early. The court also held that electric cooperatives do not...more

For those of you following the public trust climate litigation in New Mexico, Judge Sarah Singleton has now issued a written decision denying the state’s motion to dismiss the case. There is no discussion of the issues, but...more

When estate planning lawyers discuss gifting as an estate planning strategy with clients, there are a few very important components to this discussion that must be reviewed in order to most effectively leverage gifting as an...more

Landowners who are fortunate enough to have property overlying the Marcellus Shale formation are realizing significant economic transformations. They and their heirs can look forward to a lease bonus payment followed by...more

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